Credit Officer

NAJEC FMCG is seeking a diligent and detail-oriented Credit Officer to manage our credit operations effectively. The Credit Officer will be responsible for assessing the creditworthiness of new and existing customers, establishing and monitoring credit limits, ensuring timely collections, and minimizing credit risk. The ideal candidate will have a strong understanding of credit management principles, excellent analytical skills, and experience working within the FMCG industry.
Responsibilities:

Customer Credit Assessment (Trade Credit Focus):
Evaluate the creditworthiness of potential and existing trade partners (retailers, distributors) based on their business viability, sales performance, payment history with other suppliers, and market reputation.
Establish and regularly review appropriate credit limits for customers to facilitate sales while managing risk.
Conduct due diligence on new credit applications and gather necessary supporting documentation.
Trade Credit Control and Collections:
Implement and enforce the company's credit policy for trade customers.
Ensure accurate and timely invoicing and reconciliation of customer accounts.
Proactively manage the collection process, including regular communication with customers regarding outstanding invoices and implementing effective follow-up strategies.
Negotiate payment plans and resolve payment disputes with customers.
Monitor customer payment behavior and identify potential delays or risks early.
Sales Team Collaboration:
Work closely with the sales team to understand customer relationships and market dynamics relevant to credit decisions.
Provide input on credit terms for new and existing customers.
Address credit-related queries and issues raised by the sales team.
Risk Management (Trade Credit Specific):
Identify and analyze potential credit risks associated with trade customers in the FMCG sector.
Recommend and implement strategies to mitigate bad debt, such as payment guarantees or adjusted credit terms.
Monitor market trends and customer financial stability that could impact credit risk.
Reporting and Documentation:
Maintain accurate records of customer credit information, credit limits, and payment history.
Prepare regular reports on outstanding receivables, aging analysis, and collection performance for management.
Compliance:
Ensure adherence to internal credit policies and any relevant financial regulations.
Requirements:

Bachelor's degree in Finance, Accounting, Business Administration, Economics, or a related field.
Proven experience (minimum [Specify number] years) as a Credit Officer, with a strong understanding of trade credit management, preferably within the Nigerian FMCG industry.
Solid understanding of financial statements and business fundamentals relevant to assessing customer viability.
Excellent negotiation, communication, and interpersonal skills, with the ability to build relationships with trade partners.
Strong analytical and problem-solving skills, particularly in assessing credit risk in a dynamic market.
Proficiency in Microsoft Office Suite (Excel, Word, Outlook).
High level of organization and attention to detail.
Ability to work independently and proactively.
Preferred Qualifications:

Experience using accounting software or ERP systems for managing accounts receivable and credit.
Familiarity with credit reporting agencies and practices in Nigeria.